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Intrum Curve Sells-Off On Appointment Of Debt Advisors

FINANCIALS


  • We flagged the headline earlier that Intrum has appointed advisors for debt structure evaluation. Not much in the actual statement aside from the notice of appointment; “the mandate for the appointed advisors will include exploring refinancing and capital structure enhancing options”.
  • The Intrum EUR curve sold off strongly on the news with their 25s dropping by over EUR 18 to trade close to EUR 62 though the bonds have pared some of the move (25s now back to EUR 70). Equity initially sold off by close to 18% before paring some of the move.
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